Deposit and savings certificates of commercial banks. What is a certificate of deposit of Russian banks for legal entities - conditions of issue and circulation period

The instability of the current economic situation is causing more and more people to think about saving their savings. Credit institutions offer a range of different options: from deposits in national and foreign currencies to investments in precious metals or securities.

Relatively recently, a product such as a savings certificate began to gain particular popularity in the Russian financial market. What is its essence, what types there are, what advantages it provides and whether there are any disadvantages - we will consider in more detail in this article.

What is a savings certificate

Credit institutions have the ability to issue a number of different securities. One of them is a savings certificate. This is a document that confirms the fact that its owner has deposited a certain amount of money into the account of a credit institution by making a corresponding deposit. It gives its owner the opportunity to receive the invested money with interest at the end of the circulation period.

Based on the scope and status of the owner, there are two types:

• certificate of deposit;
• savings

Fundamental difference between a certificate of deposit and a savings certificate is as follows:

1. available for registration only to legal entities;
2. The possibility of settlements using cash is excluded.

Individuals, if desired, can issue a savings certificate. In this case, the form of payment is not regulated - it can be either a wire transfer or cash.

There are a number of characteristics that are common to the two types of certificate. Among them are the following:

• documentary form of release;
• the ability to transfer the right of claim to third parties;
• limited period of circulation (as a rule, it does not exceed three years);
• impossibility of extension;
• It is impossible to use the document to pay for the purchase of services or goods.

There are two types of securities in question:

1. Using a bearer savings certificate, anyone who submits it to a credit institution for redemption can receive money;
2. personalized savings certificates are issued to a specific person. In this case, only the owner of the certificate has the right to receive funds. The deposited amount of money falls under the insurance program, and the right of claim can be transferred only by drawing up an assignment agreement.

Pros and cons of a Savings Certificate

Like any type of financial product, a savings certificate has its pros and cons.

Among the disadvantages of this type of securities are the following:

1. if we are talking about bearer certificates, they are not subject to insurance;
2. financial resources can be obtained by a person who received the certificate using illegal means, for example, as a result of theft (this paragraph does not apply to registered documents);
3. Tax legislation treats certificates on a par with deposits. This means that the owner’s income will be subject to appropriate tax when the base interest on the certificate exceeds the refinancing rate by five points or more;
4. It will be difficult to restore the rights of an owner who has lost his certificate. This can only be done through the court (this point also does not apply to personalized certificates);
5. You cannot manage the certificate remotely. To register the investment of funds and the receipt, the client will need to personally visit a bank branch;
6. impossibility of extension. The maximum period for circulation of a certificate does not exceed three years. After the expiration of the term stipulated by the agreement, the Savings Certificate of Sberbank (its certificates are the most popular) or any other credit institution automatically acquires the status of “on demand”.

The likelihood that the risks indicated in the second and fourth paragraphs will appear can be reduced to zero. To do this, it is enough to leave the document at the bank for safekeeping - some credit organizations provide this service free of charge.

This type of securities also has a number of advantages, thanks to which their popularity is growing:

1. High profitability. When compared to deposit programs, interest rates on savings certificates are typically several points higher. Each bank sets these rates independently, and they are fixed. In any case, a savings certificate is more profitable than a deposit;
2. Simplicity of design. The consumer will need to provide the financial institution with a passport and tax number (if available), and also deposit with the bank an amount of money equal to the face value of the certificate. After completing these procedures, the bank fills out and issues documents to the consumer;
3. Opportunity to receive money early. The option of early presentation of the certificate by the owner for redemption is provided for in the agreement. In this case, no problems will arise, but interest will be accrued at a reduced rate (it is also stated in the text of the agreement);
4. Possibility to give or sell a certificate to another person. To transfer your certificate for permanent use (if, of course, we are talking about a bearer certificate), you will not need to re-register large quantity documents.

It is in the main advantages and disadvantages that the main difference between a savings certificate and a deposit lies.

Which is better: savings certificate or deposit?

When figuring out what to choose, you should clearly understand why you need a savings certificate. It will be convenient to make a choice in its favor in the following cases:

• the client wants to receive a higher income, but one must remember that there is a certain risk. This is due to the fact that bearer certificates are not subject to DIA insurance;
• you need the ability to quickly and easily transfer the rights to a contribution to another person - for example, to make a gift or leave an inheritance;
• the client assumes that, with a high degree of probability, he will need the money before the document expires. In this case, it can easily be sold (and in some cases you can receive an amount exceeding the face value of the document) or become collateral for a loan.

Savings certificate or deposit: which is more profitable?? As noted above, the interest rate on this security is always higher than on a traditional deposit. Therefore, a savings certificate is suitable for citizens interested in profitability, as well as investment mobility. In all other situations, a deposit will be a more preferable and suitable option for the consumer.

Thus, a savings certificate has a number of features. It is possible to highlight both the advantages and disadvantages of such a security. Therefore, deciding which is better: a deposit or a certificate should be determined on a case-by-case basis.

Certificates of deposit and savings certificates belong to the group of debt securities. Only credit institutions can issue these securities. The main document regulating the issue and circulation of deposit and savings certificates in the Russian Federation is: Letter of the Central Bank of Russia dated February 10, 1992 No. 14-3-20 “On deposit and savings certificates of banks” (as amended by the Directives of the Central Bank of the Russian Federation dated August 31. 1998 No. 333-U, and dated November 29, 2000 No. 857-U).
A savings (deposit) certificate is a security that certifies the amount of a deposit made to a credit institution and the right of the depositor (certificate holder) to receive, upon expiration of a specified period, the deposit amount and the interest stipulated in the certificate in the credit institution that issued the certificate or in any of its branches .
The right to issue a savings certificate is granted to banks upon: carrying out banking activities for at least two years; publication of annual reports (balance sheet and profit and loss account), confirmed by an audit firm; compliance with banking legislation and regulations of the Bank of Russia; compliance with mandatory economic standards; the presence of a reserve fund in the amount of at least 15% of the actually paid authorized capital; meeting mandatory reserve requirements.
Certificates of deposit and savings can only exist in documentary form. The production of bank certificate forms is carried out by special printing enterprises that have a license to produce securities forms. A sample certificate of deposit from one of the Russian commercial banks is shown in Fig. 8.2.
Bank certificates can be issued either one-time or in series. Certificates can be personal or bearer. A bank certificate cannot serve as a means of payment or payment for goods sold or services provided. Cash settlements for the purchase and sale of certificates of deposit, payment of amounts on them are carried out in a non-cash manner, and savings certificates - both in a non-cash manner and in cash.
Bank certificates are issued in the currency of the Russian Federation. The issuance of certificates in foreign currency is not permitted. Certificate owners can be residents and non-residents. Bank certificates must be urgent.
Interest rates on certificates are established by the authorized body of the credit institution. Interest at the rate initially established when issuing the certificate, due to the owner upon expiration of the circulation period (when the owner of the certificate receives the right to claim the deposit under the certificate), is paid by the credit institution regardless of the time of its purchase. In case of early presentation of a savings (deposit) certificate for payment by the credit institution, the deposit amount and interest paid on demand deposits are paid, unless the terms of the certificate establish a different interest rate. If the period for receiving a deposit under the certificate is overdue, the credit institution is obliged to pay the deposit and interest amounts specified in the certificate upon the first request of its owner.

Rice. 8.2. Sample certificate of deposit
For the period from the date of request for amounts under a bank certificate until the date of actual presentation of the certificate for payment, no interest is paid. A credit institution cannot unilaterally change (reduce or increase) the interest rate stipulated in the certificate, established when issuing the certificate. The credit institution charges interest on savings (deposit) certificates on the outstanding balance of the principal debt,
accounted for in the corresponding personal account at the beginning of the operating day. Interest on the certificate is calculated by the credit institution at least once a month and no later than the last working day of the reporting month. Payment of interest on a bank certificate is carried out by the credit institution simultaneously with the redemption of the certificate upon presentation.
For deposit and savings certificates, as for any documentary security, there are requirements regarding the information that must be contained in the form of this security (mandatory details). The absence of any of the required details in the text of the certificate form makes this certificate invalid.
The required details of a savings (deposit) certificate are given in table. 8.1.
Table 8.1
Mandatory details of a savings (deposit) certificate

Group	Requisites
General details	Name "savings (or deposit) certificate" Number and series of the certificate Unconditional obligation of the credit institution to return the amount deposited or on deposit and to pay the interest due Signatures of two persons authorized by the credit institution to sign such obligations, sealed with the seal of the credit institution
Participants	Name, location and correspondent account of the credit institution opened with the Bank of Russia For a personal certificate: name and location of the depositor - legal entity and full name. and passport details of the depositor - an individual
Information about the contribution (deposit)	Date of making the contribution or deposit Amount of the deposit or deposit issued by the certificate (in words and figures) Date of claiming the amount under the certificate
Financial conditions	Interest rate for using a deposit or deposit Amount of interest due (in words and figures) Interest rate for early presentation of a certificate for payment

Note. Compiled from: Letter of the Central Bank of Russia dated February 10, 1992 No. 14-3-20 “On deposit and savings certificates of banks.” Art. 8.
The credit institution issuing the certificate may include in it other additional conditions and details besides those indicated above, which do not contradict the legislation of the Russian Federation and the content of the mandatory details.
A personalized savings (deposit) certificate must have space to formalize the assignment of a claim (cession), and may also have additional sheets - appendices to the personalized certificate, on which assignments are drawn up. Additional sheets (appendices) that are part of the certificate must be numbered. The certificate form must contain all the basic conditions for the issue, payment and circulation of the certificate (conditions and procedure for assignment of claims), restoration of rights under the certificate if it is lost.
Certificates must have counterfoils containing the following information: certificate number, amount, date of issue, date of return, name, location, full name. depositor, passport details, as well as the signature of the depositor or authorized person.
When issuing bank certificates, the credit institution fills in all the details of the certificate counterfoil. The certificate spine is signed by the owner of the certificate or his authorized person in accordance with a power of attorney issued in accordance with current legislation, separated from the certificate and stored by the credit institution.
Amendments and erasures when filling out the certificate are not allowed.
To transfer rights to another person certified by a bearer certificate, it is sufficient to deliver the certificate to that person.
Rights certified by a personal certificate are transferred in the manner established for the assignment of claims (assignment). The assignment of a claim under a registered certificate is drawn up on the reverse side of such a certificate or on additional sheets (appendices) to the registered certificate by a bilateral agreement between the person assigning his rights (assignor) and the person acquiring these rights (assignee). An agreement on the assignment of a claim on a certificate of deposit is signed on each side by two persons authorized by the relevant
by a legal entity to carry out such transactions, and is sealed by the seal of the legal entity. Each assignment agreement is numbered by the assignor. The agreement on the assignment of a claim on a savings certificate is signed by both parties personally. The condition of continuity of registration of the assignment must be mandatory.
When the date of withdrawal of the deposit or deposit arrives, the credit institution makes a payment against presentation of a certificate and an application from the owner indicating the account to which the funds should be credited. Funds from the redemption of a certificate of deposit can be sent, at the owner’s request, only to his correspondent, settlement (current) account. For citizens, payment can be made either by transferring the amount to an account or in cash. The credit institution checks the continuity of a number of contracts for the assignment of claims, as well as the compliance of the name, seal and signatures of the owner’s authorized persons in the personal certificate with the same details in the application for crediting funds. If there are no persons who signed the certificate, the application may be signed by other authorized persons and accompanied by an appropriate power of attorney.
Restoration of rights under lost bearer certificates is carried out in court.
Restoration of rights under lost registered certificates is carried out by the credit institution that issued them for circulation.
A credit institution has the right to place savings (deposit) certificates only after registering the conditions for the issue and circulation of certificates in the territorial institution of the Bank of Russia (Main Directorate, National Bank, Operational Department-2 at the Bank of Russia) and entering them into the Register of conditions for the issue and circulation of savings and deposit certificates credit institutions in the Department of Control over the Activities of Credit Institutions in the Financial Markets of the Bank of Russia.
The credit institution issuing certificates must approve the conditions for the issuance and circulation of its certificates. Issue conditions are presented separately for each type of certificate.
Control questions Which government body carries out state registration of securities issues of commercial banks? What is a savings account? Define a savings (deposit) certificate. In what form can bank certificates be issued? What conditions must be met by a commercial bank to obtain the right to issue
savings certificates? What are the required details of bank certificates? In what currency can bank certificates be issued? Can a bank certificate serve as a means of payment or payment for
goods sold or services provided? How is the transfer of ownership of bank certificates carried out? Can rights under lost bank certificates be restored?

Today, savings and deposit certificates are offered to clients (individuals and legal entities) by more than 25 commercial banks in Russia, including Sberbank of Russia, OJSC UBRIR, Bank of Moscow, VTB, LLC CB MILBANK, Promsvyazbank, Prominvestbank, Petrocommercebank, Moscow Petrochemical Bank , European Trust Bank and others.

What is a savings (deposit) certificate? In paragraph 1 of Article 844 of Chapter 44 of the Civil Code of the Russian Federation, the meaning of a savings (deposit) certificate is defined as follows:

“A savings (deposit) certificate is a security that certifies the amount of a deposit made to a bank and the right of the depositor (certificate holder) to receive, upon expiration of a specified period, the deposit amount and the interest stipulated in the certificate in the bank that issued the certificate or in any branch of this bank ."

Uniform rules for all credit institutions in Russia for the issuance and execution of savings and deposit certificates were established by the Regulations set out in the Letter of the Central Bank of the Russian Federation dated February 10, 1992 N 14-3-20 (as amended on November 29, 2000) “On deposit and savings certificates of banks”

So, savings (deposit) certificates are securities that can be of the following types:

• nominal;
• to bearer

They can be produced:

• On a one-time basis.
• On an ongoing basis (in series)

According to their name, certificates are:

• savings;
• deposit.

Why does the Civil Code of the Russian Federation use a combination of two words when describing certificates - “savings, deposit”? This is due to the fact that the conditions for issuance and circulation of both types of certificates are the same, but the scope of application is different. Certificates of deposit are used only for servicing legal entities, and savings certificates are used only for servicing the population.

Certificate of Deposit- this is a written certificate of the bank regarding the payment of deposits placed with it by legal entities, on the basis of which rights can be transferred from one person to another. Cash payments for purchases and sales and payment of amounts under these certificates are carried out only by bank transfer.

Savings certificate- this is a document that is the bank’s obligation to pay out savings deposits placed with it by individuals, the rights under which can be assigned by one person to another. Settlements and payments under these certificates are carried out both by bank transfer and in cash. Issued on special forms with a high degree of protection.

There are also mandatory conditions for issuing certificates, namely:

• They are issued only in the currency of the Russian Federation.
• Can only be urgent.
• Their owners can be residents and non-residents of the Russian Federation.
• Cannot be extended.
• They cannot serve as a means of payment or payment for goods sold or services provided.

A savings (deposit) certificate is a relatively new multifunctional banking product on the Russian market. Certain types of certificates are even in high demand, for example, bearer savings certificates. The greatest demand in 2012 - 2013 was for savings certificates with a maturity period of 1 to 3 years, and before 2012, the greatest demand was for savings certificates with a maturity period of 181 days to 1 year.

The demand for certificates fluctuates over the years. The highest activity of the population in purchasing savings certificates occurred in 2007, and starting from 2008, the volume of issuance of savings certificates fell until 2012, which was associated with crisis situations in the economy, unprotected state insurance of investments in bearer certificates and not the most attractive conditions of banks by profitability.

Data from the Central Bank of the Russian Federation on the volume of savings certificates issued look like this:

		of which with a repayment period from 181 days to 1 year (million rubles)	The ratio of gr.3 to gr. 2 (%)
1	2	3	4
2002	1 127	934	89,9
2003	1 663	1 058	63,6
2004	3 623	2189	60,4
2005	6 622	3 089	46,6
2006	16 232	7 600	46,8
2007	22 411	10 470	46,7
2008	18 040	7 318	40,6
2009	15 487	5 705	36,7
2010	13 981	5 344	38,2
2011	11 518	2 755	23,9
2012	228 376	36 498	15,98
2013	349 711	35 125	10,04

Since 2011, there has been an increase in the volume of savings certificates with maturities from 1 to 3 years, and in 2012 - 2013 there was a sharp surge in investments in savings certificates with maturities from 1 to 3 years. This can be seen from the following table:

At the end of the year / Volumes (at nominal value)	Savings certificates – total (million rubles)	with a maturity period of 181 days to 1 year (million rubles)	The ratio of gr.3 to gr. 2 (%)	with a repayment period from 1 year to 3 years	Ratio of gr.5 to gr. 2 (%)
1	2	3	4	5	6
2010	13 981	5 344	38,2	4 156	29,7
2011	11 518	2 755	23,9	4 944	42,92
2012	228 376	36 498	15,98	158 186	69,27
2013	349 711	35 125	10,04	273 386	78,17

Certificate owners can be individuals, both residents and non-residents. The purchase of a savings certificate from a bank can be done by depositing cash at the time of purchase or using funds stored in a deposit.

Since a savings (deposit) certificate is a security, the certificate form itself has all the necessary degrees of protection and watermarks, and is produced in specialized printing houses that have the appropriate licenses.

Certificates are issued on a special form, which must contain the following: required details:

• name "savings (or deposit) certificate";
• certificate number and series;
• date of making the deposit/contribution;
• the amount of the deposit or deposit issued by the certificate (in words and figures);
• the unconditional obligation of the bank to return the amount deposited or on deposit and to pay the interest due;
• date of claim of the amount under the bank certificate;
• interest rate for using a deposit/deposit;
• amount of interest due (in words and figures);
• interest rate upon early presentation of the certificate for payment;
• name, location and correspondent account of the credit institution opened with the Bank of Russia;
• for a personal certificate: name and location of the depositor - legal entity and full name. and passport details of the depositor - an individual;
• signatures of two bank employees authorized by the bank to sign such documents, sealed by the bank’s seal.

In addition to these data, the bank may include other additional conditions and details that do not contradict the legislation of the Russian Federation, but the absence of any of the required details in the text of the certificate form makes this certificate invalid.

To get an answer to the question, “Why do we need savings certificates of deposit?”, let’s look at the scope of its application. The attractiveness of savings (deposit) certificates is associated with a wide range of its use, namely:

• This is a special type of deposit that combines the properties of a deposit and a security. It has a fixed interest rate, which is set when the security is issued. Interest is paid simultaneously with the redemption of the certificate upon presentation. In case of early repayment of the certificate, banks pay interest established on demand deposits.


• A bank certificate can be given as a gift or transferred to another person. A certificate issued to the bearer is transferred to another person by simple delivery. A personal certificate is transferred by simply registering a cession (assignment of a claim) on the reverse side of the certificate form and on additional sheets (appendices). The transfer procedure is not complicated.


• Certificates can be bequeathed to your heirs. True, this is troublesome for the testator. With each subsequent expiration of the date for claiming funds under a certificate of deposit, its re-registration is required, and, consequently, a simultaneous change in the will since The details of the certificate of deposit are changing.


• They can be used as collateral for loans. In this case, savings (deposit) certificates are usually transferred for storage to the bank at the place where the loan was received. So, if you have invested your available funds in a long-term profitable certificate of deposit, and you do not want to lose income from it, but you still need money, then you can take out a loan secured by this security.


• Savings certificates can be used to store funds while traveling. It is always more convenient to carry one piece of paper rather than several packs of bills. You can receive funds to pay for a savings certificate at all divisions of the Bank that issue certificates and serve individuals. However, in the event of early repayment of a security, you will receive interest at the “on demand” rate and only for the actual number of days the security is stored. There are also disadvantages to this service - not all banks have an extensive branch network throughout the country, and carrying a certificate (to bearer) is as dangerous as money.

The savings certificate of Sberbank of Russia, which is issued to bearer, may be of greatest interest to people, which can be explained by the extensive geography of Sberbank's branch network throughout Russia.

But before I talk further about the savings certificate of Sberbank of Russia, I will first tell you about several significant disadvantages of certificates. Significant disadvantages of Savings (Deposit) Certificates include:

1. Savings certificates issued by banks to bearer, including certificates of Sberbank of Russia, do not participate in the deposit insurance system for individuals.

   Thus, in accordance with paragraph 2 of paragraph 2 of Article 5 of the Federal Law “On insurance of deposits of individuals in banks of the Russian Federation” dated December 23, 2003 N 177-FZ and paragraph 2 of paragraph 2 of Article 4 of the Federal Law “On payments by the Bank of Russia on deposits of individuals in In banks declared bankrupt that do not participate in the system of compulsory insurance of individuals' deposits in banks of the Russian Federation" dated July 29, 2004 N 96-FZ, funds placed by individuals in bearer bank deposits certified by savings certificates are not subject to insurance.

   Consequently, if a bank issuing bearer certificates goes bankrupt or its banking license is revoked, then depositors who kept their savings in savings certificates (bearer certificates) with that bank will not be included in the list of persons to whom the Insurance Agency deposits and the Central Bank will pay insurance compensation. Such possible financial losses should be taken into account and avoided.



2. Interest income accrued on all types of Savings Certificates is taxed in the same way as interest on regular bank deposits. Thus, on the income of individuals, a tax rate of 35% is established regarding the interest due to the holder of a savings certificate that exceeds the refinancing rate of the Bank of Russia. This tax is calculated and withheld by banks.

   So, for example, if the interest rate on a certificate of deposit is 10%, and the refinancing rate is 8.5%, then income accrued from a rate of 1.5% (10% - 8.5%) is subject to taxation in the amount of 35%. Today, banks generally set the yield on certificates below the refinancing rate, and only on certificates for a very large amount and long term - above the rate. For example, the highest interest rates on savings certificates of Sberbank of Russia in 2013 range from 8.50 to 10.00%. Moreover, the larger the amount and the longer the term, the higher the rate.



3. Tax at the rate of 13% of the initial value of the registered Savings Certificate. It is paid if the registered certificate has changed its owner and is canceled not by the buyer, but by another person. In other words, receiving a personal certificate as an inheritance, donating it or transferring it to another person refers to the receipt of income by another person.

   Filling out and submitting an income statement to the tax office is the responsibility of the recipient of the personal certificate. The new owner can avoid paying this tax only if he submits to the tax service a payment document confirming his own expenses for purchasing this certificate.
   Savings certificates (to bearer) are not subject to taxes. That is why they are more popular among investors.

Savings certificate (to bearer) of Sberbank of Russia

Sberbank savings certificate

The main conditions for issuing and servicing Savings Certificates of Sberbank of Russia are as follows:

• are issued in the currency of the Russian Federation;


• are issued for a period from 3 months to 3 years;


• The minimum amount of deposits for savings certificates is 10,000 rubles;


• The quantity, denomination (deposit amount) and term of deposit under certificates are determined by the depositor;


• Issued for a specific period;


• have a fixed interest rate;


• transfer of the certificate is possible at any time during the validity period of the deposit. You can give a savings certificate to your friends and relatives. In this case, the transfer of rights under the certificate to another person is carried out by simply delivering the certificate to this person; the conclusion of additional agreements and other certification of rights is not required.

Starting from November 17, 2014, interest rates on savings certificates by Sberbank of Russia have been established as follows:

Amount of days	Deposit amount in rubles / interest (% per annum)
	10 000 - 50 000	50 000 - 1 000 000	1 000 000 - 8 000 000	8 000 000 - 100 000 000	over 100,000,000
91-180	0,01	8,00	8,50	8,75	9,00
181-365	0,01	8,75	9,25	9,50	9,75
366-730	0,01	9,25	9,75	10,00	10,25
731-1094	0,01	9,50	10,00	10,25	10,50
1095	0,01	10,00	10,50	10,75	11,00

The disadvantage of the Sberbank of Russia Savings Certificate is the increased risk when storing it at home. Restoration of rights under a lost certificate is carried out only through the court.

More detailed information about Sberbank certificates can be found in the article “Savings certificate of Sberbank of Russia (to bearer): terms of issue, yield, denomination of securities. Change made on November 17, 2014.

Certificates of deposit and savings certificates are securities, the right to issue which is granted only to commercial banks. Their release and circulation are regulated by Art. 844 of the Civil Code of the Russian Federation, as well as regulations of the Central Bank of Russia.

Deposit (savings) certificate- a security certifying the amount of the deposit made to the bank and the right of the depositor (certificate holder) to receive, upon expiration of the established period, the amount of the deposit and the interest stipulated in the certificate in the bank that issued the certificate or in any branch of this bank.

If a legal entity acts as a depositor, then certificate of deposit, if an individual - savings certificate. In this case, the owner of the certificate can only be legal entities registered on the territory of the Russian Federation or another state that uses the ruble as an official monetary unit, or citizens of the Russian Federation or another state that uses the ruble as an official monetary unit.

Bank certificate details. Registration of a deposit or savings certificate is the proper form for concluding a bank deposit agreement. Therefore, the peculiarity of a certificate as a security is that it can only be issued in documentary form. In this case, the certificate can be personal or bearer. The certificate form must contain the following mandatory details:

Name “deposit (or savings) certificate”;

An indication of the reason for issuing the certificate (making a deposit or savings deposit);

Date of making the deposit or savings deposit;

The amount of the deposit or savings deposit, issued by a certificate (in words and figures);

An unconditional obligation of the bank to return the amount deposited or deposited;

Date of claim by the beneficiary (depositor) of the amount under the certificate;

Interest rate for using a deposit or deposit;

The amount of interest due;

Name and addresses of the issuing bank, and for a personal certificate - the beneficiary (depositor);

Signatures of two persons authorized by the bank to sign such obligations, sealed by the bank.

The absence of any of the required details in the text of the certificate form makes this certificate invalid.

The bank issuing the certificate may include other additional conditions and details that do not contradict current legal regulations.

The certificate form must also contain all the conditions for issuing, payment and circulation of the certificate (conditions and procedure for assigning rights of claim under the certificate). If an operation was performed with the certificate that was not provided for by the conditions contained on its form, such operation is considered invalid.

Release conditions. The conditions for issuing deposit (savings) certificates are approved by the Central Bank of the Russian Federation or the national bank of the republic within the Russian Federation. The conditions for issuing certificates must contain the full procedure for issuing and circulation of certificates, a description of its appearance and a sample (layout).

At the moment, there are certain restrictions on the composition of commercial banks that can issue savings certificates. Only banks can issue savings certificates:

Carrying out banking activities for at least a year;

Complying with banking legislation and regulations of the Bank of Russia, including directive economic standards;

Having a reserve fund in the amount of at least 15% of the actually paid authorized fund;

Having reserves for possible loan losses in accordance with the requirements of the Bank of Russia.

Certificates can be issued either one-time or in series.

The circulation period of certificates of deposit (from the date of issue of the certificate to the date when the owner of the certificate receives the right to claim the deposit) is limited to one year. The circulation period of savings certificates cannot exceed three years.

The circulation of deposit and savings certificates is carried out on the basis of general rules of civil law. At the same time, certificates cannot serve as a means of payment or settlement for goods sold or services provided. Cash payments for the purchase and sale of certificates of deposit and payment of amounts on them are carried out only by bank transfer.

The assignment of the right of claim under bearer certificates is carried out by simple delivery of this certificate.

The assignment of the right of claim under a registered certificate (assignment) is formalized on the reverse side of such a certificate by a bilateral agreement between the person assigning his rights (assignor) and the person acquiring these rights (assignee). An agreement on the assignment of the right of claim under a certificate of deposit is signed by two persons authorized by the relevant legal entity to carry out such transactions, and is sealed by this legal entity. Each assignment agreement is numbered by the assignor. The agreement on the assignment of the right to claim under a savings certificate is signed by both parties personally.

When the term for claiming a deposit or deposit arrives, the bank is obliged to pay the owner of the security the amount of the deposit and interest at the rate initially established in the conditions of issue and circulation, regardless of the time of purchase by the owner of this certificate. This means that the interest rate fixed on the certificate form cannot be changed during the circulation period of the certificate. Payment is made against presentation of a certificate and an application from the owner indicating the account to which the funds should be credited. For citizens, payment can be made either by transferring the amount to an account or in cash.

In case of early presentation of a savings or deposit certificate for payment, the bank pays the deposit amount and interest paid on demand deposits, unless the terms of the certificate establish a different interest rate.

INTRODUCTION 3

1. Certificates of deposit and savings certificates and their operations 4

1.1. Certificates of deposit 6

1.2. Deposit operations 9

1.3. Savings certificates 11

1.4. Accounting transactions for savings certificates 13

CONCLUSION 21

REFERENCES 23
INTRODUCTION

Commercial banks, being intermediaries in the financial market, can act as issuers of various types of securities. They issue not only stocks and bonds, but also money market instruments - certificates of deposit and savings, bills of exchange. If the bank’s own and borrowed capital is formed on the basis of the issue of shares and bonds, then the issue of certificates and bills can be considered as attracting managed deposits, or irrevocable deposits.

To form or increase the authorized capital, the bank issues shares. They can be ordinary and privileged, registered and bearer.

In order to attract additional funds to carry out active operations, commercial banks issue bonds.

In order to attract additional financial resources, commercial banks issue securities called certificates (a monetary document-identity). Depending on the orientation towards the investor, certificates are divided into deposit and savings certificates. They are monetary documents certifying the deposit of funds for a certain time, usually having a fixed interest rate.

Certificates issued by the bank must meet the requirements (paper quality, levels of protection, presence of necessary details). Due to the fact that deposit and savings certificates are classified as securities by the Civil Code of the Russian Federation, the forms should not be prepared in any form, but taking into account the requirements for the production of securities forms. The production of savings certificate forms is carried out only by printing enterprises that have received a license from the Ministry of Finance of the Russian Federation to produce securities forms.

1. Certificates of deposit and savings certificates and their operations

Certificate - a written certificate from the issuing bank about the deposit of funds, certifying the right of the depositor or his successor to receive, upon expiration of the established period, the amount of the deposit and interest on it.

According to Russian legislation, deposit and savings certificates can only be issued by credit institutions, i.e. banks.

The issue of bank certificates is carried out on the basis of the conditions for the issue and circulation of bank certificates approved by the board of the bank and approved in the prescribed manner by the Bank of Russia. Certificates are issued in rubles and foreign currencies with any payment terms on mutually beneficial terms. Depending on the orientation towards the investor, certificates are divided into deposit and savings certificates.

Certificates of deposit are issued for legal entities, and savings certificates for individuals. In this case, legal entities must be registered on the territory of the Russian Federation, and individuals must be citizens of Russia.

The certificate form must contain the following mandatory details:

Name certificate of deposit or savings certificate;

Certificate number and series;

Date of deposit of funds;

The amount of the deposit or deposit issued by the certificate (in words and figures);

An unconditional obligation of the credit institution to return the deposited amount and pay the interest due;

Date of claim of the amount under the certificate;

Interest rate;

Amount of interest due (in words and figures);

Interest rate upon early presentation of a certificate for payment;

Name, location and correspondent account of the credit institution opened with the Bank of Russia;

For a personal certificate: name and location of the depositor - legal entity and full name. and passport details of the depositor - an individual;

Signatures of two persons authorized by the credit institution, sealed by the bank.

A certificate is considered invalid if its text does not contain any of the required details.

The production of certificate forms, as well as additional sheets, is carried out only by a printing enterprise that has received a license from the Ministry of Finance of the Russian Federation to produce securities forms.

Certificates must have counterfoils that record the following information: certificate number and series, amount, date of issue and redemption, full name and passport details of the depositor, signature of the depositor indicating receipt of the certificate.

A credit institution can place deposit (savings) certificates only after registering the conditions for issuing and circulation of certificates at the territorial branch of the Bank of Russia.

To register, a credit institution must submit the following documents:

Conditions for issuing and circulation of certificates;

Layout of the certificate form;

A notarized copy of the credit institution’s license;

Certificate of state registration of the bank;

Balance and calculation of mandatory economic standards as of the last reporting date before making a decision on issuing certificates.

All certificates issued by banks are urgent, since the issuance of these securities on demand is not permitted by law.

The circulation period for certificates of deposit (from the date of issue of the certificate to the date when the owner of the certificate receives the right to claim the deposit) is one year. The circulation period of savings certificates cannot exceed three years. If the deadline for receiving a deposit under a certificate is overdue, the certificate becomes a demand document.

Certificates of deposit and savings can be personal or bearer. Issued in series and in one-time order. If there is trust in the issuing bank, certificates can be used as a means of payment.

The right to claim under a bearer certificate is assigned by handing it over to the new owner. A personalized certificate is issued through a cession (assignment of rights of claim), which is noted on the back of the certificate.

1.1. Certificates of deposit

There are several types of certificates of deposit.

1. Certificates of deposit on demand ovaniya. They do not pay interest and are payable at sight; are used mainly as a guarantee of payment, e.g. like lottery winnings.

2. Term certificates of deposit. They generate interest income and have terms from 30 days to several years; The denomination of these certificates can vary: from less than $1000. (individual certificates of deposit) up to more than 100 thousand dollars. (institutional certificates of deposit); certificates for very large amounts can be circulated and, if properly endorsed, can serve as security for loans. Zero-rate certificates of deposit are sometimes used for offsetting account balances because they have lower reserve requirements.

3. Floating rate certificates of deposit. Introduced in 1973, their interest rate is tied to the rate on 90-day certificates of deposit and is adjusted every 90 days.

4. Certificates of deposit with floating interest. They were abolished in 1981. Their interest rate was tied to the weekly auction sale of six-month Treasury bills, and they could be used as collateral for short-term loans.

5. Certificates of deposit without penalty. Under such certificates, investors can make withdrawals at any time or at specified intervals. Federal law no longer requires financial institutions to charge fees for early withdrawals of principal, but allows them to withhold one to three months' interest on certificates of deposit with maturities of one year or less and three to six months' interest on certificates of deposit with long-duration certificates. deadlines.

6. Increasing rate certificates of deposit. They increase in rate each time they are renewed for a specified period of time, such as every six months over a three-year period.

7. Certificates of deposit indexed to stock prices. Income from certificates is tied to the stock market. The bull option allows the investor to bet on market rates going up, while the bear option allows the investor to bet on market rates going down.

8. Brokerage certificates of deposit. These Certificates of Deposit are issued by the stock broker and not by the bank or savings and loan association. Brokered CDs are bought and sold on secondary markets, which gives the investor the right to sell them before the CDs expire without paying a penalty.

A certificate of deposit is a security that certifies the amount of the deposit made to the Bank and the rights of the depositor, that is, the holder of the certificate, to receive upon expiration of the established period the deposit amount and the interest stipulated in the certificate. At the same time, opening a deposit account is not required, which reduces the number of documents provided to the Bank.

Purchasers of a certificate of deposit can be resident and non-resident legal entities in accordance with the current legislation of the Russian Federation and regulations of the Bank of Russia.

Certificates are issued in the currency of the Russian Federation. Payments for the purchase or sale of certificates, payment of amounts on them are carried out only by bank transfer.

The basis for issuing a certificate is the Agreement between the branch and the depositor purchasing the certificate and the crediting of the deposit amount to the branch's account. The agreement is drawn up in two copies, one of which remains in the branch, and the second is transferred to the depositor.